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Title:A theory of repurchase agreements, collateral re-use, and repo intermediation Author(s):GOTTARDI, Piero
; MAURIN, Vincent; MONNET, CyrilDate:2017Type:Working PaperSeries/Number:EUI ECO; 2017/03Abstract:We show that repurchase agreements (repos) arise as the instrument of choice to borrow in a competitive model with limited commitment. The repo contract traded in equilibrium provides insurance against fluctuations in the ...
; MAURIN, Vincent; MONNET, CyrilDate:2017Type:Working PaperSeries/Number:EUI ECO; 2017/03Abstract:We show that repurchase agreements (repos) arise as the instrument of choice to borrow in a competitive model with limited commitment. The repo contract traded in equilibrium provides insurance against fluctuations in the ...